10-Q Filing

Q32 Bio Inc. CIK: 1661998 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-021177`
Period End Date	20230331
Filing Date	20230511
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	fixx-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 33 Cash Flow Statement 65 Stockholders Equity 17 Comprehensive Income 8

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$248.13M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$141.04M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$110.57M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.99M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.56M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$153.58M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$181.01M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Equity method investment	`EquityMethodInvestments`	$25.81M	USD	Point-in-time
Equity method investment	`EquityMethodInvestments`	$23.04M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	57.48M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	57.79M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	57.48M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	57.79M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.06M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.08M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$20.20M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$20.56M	USD	Point-in-time
Total assets	`Assets`	$197.88M	USD	Point-in-time
Total assets	`Assets`	$228.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.14M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedExpensesAndOtherLiabilitiesCurrent`	$12.89M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedExpensesAndOtherLiabilitiesCurrent`	$18.71M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$1.63M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$1.56M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$1.16M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$354.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.51M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$27.92M	USD	Point-in-time
Operating lease liabilities, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$27.48M	USD	Point-in-time
Total liabilities	`Liabilities`	$45.98M	USD	Point-in-time
Total liabilities	`Liabilities`	$50.49M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding at March 31, 2023 and December 31, 2022	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding at March 31, 2023 and December 31, 2022	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.0001 par value; 200,000,000 shares authorized; 57,794,767 and 57,483,910 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$6.00K	USD	Point-in-time
Common stock, $0.0001 par value; 200,000,000 shares authorized; 57,794,767 and 57,483,910 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$6.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$607.51M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$610.06M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-404.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-182.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-457.98M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-429.14M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$169.65M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$177.98M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$266.25M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$151.90M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$197.88M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$228.47M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Collaboration revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$802.00K	USD	1 Quarter
Collaboration revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$802.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$24.27M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$19.99M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$14.15M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.32M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$38.42M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$28.31M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-37.62M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-27.51M	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	$131.25M	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	$131.25M	USD	Point-in-time
Interest income	`InterestIncome`	$1.47M	USD	1 Quarter
Interest income	`InterestIncome`	$32.00K	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$1.47M	USD	1 Quarter
Total other income	`OtherNonoperatingIncomeExpense`	$131.28M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$93.66M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-26.04M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$967.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Loss from equity method investment	`LossFromEquityMethodInvestment`	$-2.80M	USD	1 Quarter
Loss from equity method investment	`LossFromEquityMethodInvestment`	$-591.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$92.11M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-28.84M	USD	1 Quarter
Net income (loss) per share-basic	`EarningsPerShareBasic`	$-0.50	USD	1 Quarter
Net income (loss) per share-basic	`EarningsPerShareBasic`	$1.61	USD	1 Quarter
Net income (loss) per share-diluted	`EarningsPerShareDiluted`	$1.59	USD	1 Quarter
Net income (loss) per share-diluted	`EarningsPerShareDiluted`	$-0.50	USD	1 Quarter
Weighted-average common shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	57.28M	shares	1 Quarter
Weighted-average common shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	57.72M	shares	1 Quarter
Weighted-average common shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.72M	shares	1 Quarter
Weighted-average common shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.88M	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$92.11M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-28.84M	USD	1 Quarter
Depreciation	`Depreciation`	$348.00K	USD	1 Quarter
Depreciation	`Depreciation`	$225.00K	USD	1 Quarter
Noncash lease expense	`NonCashLeaseExpense`	$362.00K	USD	1 Quarter
Noncash lease expense	`NonCashLeaseExpense`	$197.00K	USD	1 Quarter
Loss from equity method investment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$-591.00K	USD	1 Quarter
Loss from equity method investment	`EquityMethodInvestmentRealizedGainLossOnDisposal`	$-2.80M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$4.05M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.37M	USD	1 Quarter
(Accretion of discount) amortization of premium on short-term investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$909.00K	USD	1 Quarter
(Accretion of discount) amortization of premium on short-term investments	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-38.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-11.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	$131.25M	USD	Point-in-time
Gain on sale of business	`GainLossOnSaleOfBusiness`	$131.25M	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-507.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.43M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.70M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.49M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-4.99M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-5.82M	USD	1 Quarter
Accrued income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	1 Quarter
Accrued income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$967.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-802.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-802.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-375.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-150.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-30.68M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-26.05M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	-	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$25.28M	USD	1 Quarter
Sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$56.88M	USD	1 Quarter
Sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Maturities of short-term investments	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$39.46M	USD	1 Quarter
Maturities of short-term investments	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	-	USD	1 Quarter
Proceeds from sale of business	`ProceedsFromSaleOfBusiness`	$130.00M	USD	1 Quarter
Proceeds from sale of business	`ProceedsFromSaleOfBusiness`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.15M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$228.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$168.31M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$31.37M	USD	1 Quarter
Proceeds from issuance of common stock pursuant to employee stock purchase plan	`ProceedsFromStockPlans`	$150.00K	USD	1 Quarter
Proceeds from issuance of common stock pursuant to employee stock purchase plan	`ProceedsFromStockPlans`	$439.00K	USD	1 Quarter
Proceeds from issuance of common stock from option exercises	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from issuance of common stock from option exercises	`ProceedsFromStockOptionsExercised`	$1.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$440.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$150.00K	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$138.07M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.47M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$110.33M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$33.99M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$39.45M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$248.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$110.33M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$33.99M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$39.45M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$248.40M	USD	Point-in-time
Property and equipment additions included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$59.00K	USD	1 Quarter
Property and equipment additions included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter
Property and equipment additions included in accrued expenses and other liabilities	`PropertyAndEquipmentAdditionsIncludedInAccruedExpensesAndOtherLiabilities`	$5.00K	USD	1 Quarter
Property and equipment additions included in accrued expenses and other liabilities	`PropertyAndEquipmentAdditionsIncludedInAccruedExpensesAndOtherLiabilities`	-	USD	1 Quarter
Unrealized loss on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$222.00K	USD	1 Quarter
Unrealized loss on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$7.00K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$169.65M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$177.98M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$266.25M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$151.90M	USD	Point-in-time
Issuance of common stock from option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.00K	USD	1 Quarter
Issuance of common stock pursuant to employee stock purchase plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$439.00K	USD	1 Quarter
Issuance of common stock pursuant to employee stock purchase plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$150.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$2.37M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$4.05M	USD	1 Quarter
Other comprehensive gain (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$7.00K	USD	1 Quarter
Other comprehensive gain (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$222.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-28.84M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$92.11M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$266.25M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$169.65M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$177.98M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$151.90M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-28.84M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$92.11M	USD	1 Quarter
Change in unrealized gain (loss) on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$222.00K	USD	1 Quarter
Change in unrealized gain (loss) on available for sale securities, net	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$7.00K	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$7.00K	USD	1 Quarter
Total other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$222.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-28.62M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$92.11M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.